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  • Profile photo of umeume
    Member
    @ume
    Join Date: 2008
    Post Count: 37

    hi, i jsut want to double check this. would i still be entitled to first home buyer grant if i bought an ip through a trust structure, me being the trustee aswell as the beneficiaries?

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Yes as long as you have never purchased a PPOR previously.

    Richard Taylor | Australia's leading private lender

    Profile photo of LinarLinar
    Member
    @linar
    Join Date: 2004
    Post Count: 567

    What state do you want to buy in?

    Profile photo of umeume
    Member
    @ume
    Join Date: 2008
    Post Count: 37
    Profile photo of LinarLinar
    Member
    @linar
    Join Date: 2004
    Post Count: 567

    Hi ume

    I have just had a look on the NSW FHOG website and looked at the application form.  It states quite clearly that applicants must "be a natural person (ie not applying as a company or trust), at least 18 years of age and whose interest in the property is not held subject to a trust".

    To my mind, that makes it quite clear that you cannot use the FHOG if you are buying in a trust, despite the fact that you are the beneficiary.

    I haven't looked at the legislation behind the application form but given that it is the second criteria, I would think that the legislation would also state the same quite clearly.

    Cheers

    K

    Profile photo of LinarLinar
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    @linar
    Join Date: 2004
    Post Count: 567

    Hi again

    I have just had a look at the legislation, "The First Home Owner Grant Act 2000" of NSW.  Section 8 states very plainly that the applicant must be a natural person. 

    A trust is not a natural person.

    Cheers

    K

    Profile photo of umeume
    Member
    @ume
    Join Date: 2008
    Post Count: 37

    sorry linar, i meant, would i be entitled to fhog when i purchase my principal home in the future if i buy an IP now through a trust.

Viewing 7 posts - 1 through 7 (of 7 total)

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